electric car Archives

Li Auto and NIO Opt Out of Chinese Auto Price War

Since the beginning of this year, a surge in reduced car prices has swept across China, prompting many vehicle companies to participate. Nevertheless, some companies, including Li Auto, NIO, Porsche, and Audi, have no intention of following suit.

CATL, Gotion High-Tech and Rivals Accelerate Overseas Factory Construction

Many Chinese battery firms have recently announced their construction of new overseas factories. In September, CATL and SVOLT revealed that they would build their second overseas battery factory in Europe.

Leapmotor Responds to Car Owner Who Claims Collision Occurred With Assisted Driving

A Leapmotor vehicle rear-ended another car without braking, pushing it out dozens of meters. Leapmotor confirmed that the vehicle was in a human-driven state before the collision, without activating ACC mode (Adaptive Cruise Control).

NETA Auto and BOE Varitronix Begin Strategic Cooperation

On August 4, NETA Auto, a new energy vehicle brand under Hozon Auto, began its strategic cooperation with BOE Varitronix Ltd., an LCD company.

2022 China Automotive Low Carbon Action Plan Released

On July 27, China Automotive Technology & Research Center Co., Ltd. (CATARC), a state-owned research institute, released a report entitled "2022 China Automotive Low Carbon Action Plan" in Beijing.

Hon Hai Plans to Build Complete Battery Industry Ecosystem in Indonesia

Hon Hai Technology Group, the parent company of electronics giant Foxconn, issued a statement regarding future investment in Indonesia, with the electric vehicle and battery industries at the core.

Chinese Automaker BYD Ships First Batch of Electric Cars to Norway

Chinese automaker BYD sent 100 of its "Tang" models to Norway on Monday, marking the first batch in the planned delivery of electric vehicles (EVs) to the European market.

Tesla’s China Orders Halved in May Amid Regulatory Pressure and Public Relations Crisis, Report Says

Tesla’s vehicle orders in China dropped by almost half in May compared with the previous month, as the US automaker wrestles with backlash from regulators and customers alike in the world’s largest electric vehicle (EV) market, according to tech media outlet The Information.

Baidu-Geely EV Venture to Unveil First Model Priced Above $31,000 Next Year

Jidu Auto, the joint electric vehicle (EV) venture between Chinese search and AI giant Baidu and automaker Geely, will unveil its first model at the 2022 Beijing Auto Show, according to its top executive.

Xiaomi’s First Car to Be Priced Between $15,000 to $46,000: CEO Lei Jun

Xiaomi’s first vehicle will be either an SUV or a sedan, co-founder and CEO Lei Jun told excited fans during a live-stream session on Tuesday evening.

Chinese Officials Summon Tesla Over Quality and Safety Complaints

Chinese regulators have summoned representatives from Tesla for talks over quality and safety issues of its vehicles.

Chinese Electric Carmaker XPeng Raises $2.16 billion in Upsized Share Sale

Chinese Electric Carmaker XPeng raised $2.16 billion in an upsized follow-on offering, the company announced in a statement on Wednesday.

Tesla Invests $6.4m in New Plant in China to Build Electric Car Chargers: Report

Tesla Inc will start producing electric vehicle (EV) chargers in China next year, according to a Reuters report.

Li Auto’s US IPO Gets Fully Subscribed

NIO’s domestic rival, Beijing-based electric vehicle startup Li Auto’s initial public offering in the US has been fully subscribed for a whopping $950 million, Reuters’ IFR reported.

Geely Backed EV Maker Polestar Plans China Showroom Expansion, Challenging Tesla

Polestar, the premium electric vehicle maker owned by China's Geely, plans a big expansion of its showroom network in mainland China.

China’s New Energy Vehicle Purchase Subsidy Extended for Two Years

China’s State Council announced a two-year extension of the “new energy vehicle (NEV)” subsidy and tax exemption that would initially expire at the end of this year.

Faraday Future Founder Releases Statement on Bankruptcy Case

Jia Yueting released a statement after his Chapter 11 Disclosure Statement and the motion for approval of DIP Financing were approved.

Bankrupt Faraday Future Founder Responds to Dispute in Media Coverage Over Huge Amount of Family Claims

Jia Yueting announced that the $600 million claim declaration amount is the joint guarantee debt of both his brother Jia Yuemin and himself.

NIO’s Third Largest Shareholder Gives Up Equity in the Company

As of December 31, 2019, Hillside Capital no longer holds equity in NIO. So far, 2020 has seen NIO raise $200 million in convertible bond financing.

China Raises 2025 New Energy Car Sales Target to 25%

The Ministry of Industry and Information Technology (MIIT) is now raising the stakes, setting a higher target for the proportion of environmentally friendly cars out on the roads.

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